Bay Street Seen Opening On Negative Note

RTTNews | vor 1109 Tagen

(RTTNews) - The Canadian market is likely to open on a negative note Monday morning, tracking sharply lower crude oil and bullion prices following disappointing economic data from China.

Data released by the National Bureau of Statistics showed industrial production in China was up 3.8% on year in July, much less than an expected increase of 4.6%, and down from the 3.9% growth in June.

The bureau also said that retail sales rose an annual 2.7% in July, missing expectations for 5% and down from 3.1% in the previous month.

In Canadian corporate news, Turquoise Hill Resources (TRQ.TO) announced that the company's Special Committee of independent directors found Anglo-Australian mining firm Rio Tinto's proposal to buy Turquioise for a cash consideration of C$34 per share does not fully and fairly reflect full and fair value of the company.

Ivanhoe Mines Limited (IVN.TO) recorded a profit of $351.5 million for the second-quarter of 2022, compared to a loss of $108.6 million for the same period in 2021.

K92 Mining Inc. (KNT.TO) reported net income of US$5.1 million or $0.02 per share in the second quarter, a 17% increase from a year ago.

MAG Silver Corp (MAG.TO) said its net income for three months ended June 30, 2022 amounted to $7,562, or $0.08 per share, compared with net income of $3,305, or $0.03 per shares in the year-ago quarter.

On the economic front, data on new motor vehicles sales in Canada in the month of June is due at 8:30 AM ET.

Final data on manufacturing sales and wholesale sales data for the month of June are also due at 8:30 AM ET.

The benchmark S&P/TSX Composite Index ended with a gain of 187.93 points or 0.94% at 20,179.81, slightly off the day's high of 20,188.64. The index, which gained nearly 3% this week, finished above the 20,000 mark for the first time in nearly two months.

Despite concerns about slowing growth in China, Asian stocks ended broadly higher on Monday as investors reacted to encouraging economic data from the United States.

After opening higher reacting to the Chinese central bank's surprise decision to cut both one-year and seven-day lending rates by 10 basis points, European stocks are paring gains and are slightly weak amid concerns about slowing growth in China and Europe.

In commodities trading, West Texas Intermediate Crude oil futures are down $4.39 or 4.77% at $87.70 a barrel.

Gold futures are down $27.00 or 1.51% at $1,788.50 an ounce, while Silver futures are lower by $0.568 or 2.74% at $20.130 an ounce.

U.S. Pending Home Sales Fall More Than Expected In July

A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. fell by more than expected in the month of July. NAR said its pending home sales index decreased by 0.4 percent to 71.7 in July after sliding by 0.8 percent to 72.0 in June. Economists had expected pending home sales to edge down by 0.1 percent.

RTTNews | vor 52 Minuten

Eurozone Economic Confidence Weakens In August

Eurozone economic sentiment softened unexpectedly in August as only industry and retail trade showed improvements, survey results from the European Commission showed Thursday. The economic sentiment indicator slid to 95.2 in August from a revised 95.7 in the previous month. The score was forecast rise to 96.0.

RTTNews | vor 1Std 3 Minuten

Walgreen Co. Now Operating As Private Standalone Company Under Sycamore Partners

Independent retail pharmacy Walgreen Co. announced Thursday it is now operating as a private standalone company following the closure of the acquisition of Walgreens Boots Alliance, Inc. (WBA) by New York-based private equity firm Sycamore Partners.

RTTNews | vor 1Std 14 Minuten

U.S. Economy Surges More Than Previously Estimated In Q2

The U.S. economy grew by more than previously estimated in the second quarter of 2025, according to revised data released by the Commerce Department on Thursday. The report said real gross domestic product shot up by 3.3 percent in the second quarter compared to the previously reported 3.0 percent surge. Economists had expected the jump in GDP to be upwardly revised to 3.1 percent.

RTTNews | vor 1Std 25 Minuten

U.S. Weekly Jobless Claims Dip Roughly In Line With Estimates

A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd. The Labor Department said initial jobless claims dipped to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000. Economists had expected jobless claims to slip to 230,000.

RTTNews | vor 1Std 32 Minuten

Switzerland Logs Weaker Growth, Trims 2026 Outlook

The Swiss economy expanded modestly in the second quarter, as estimated earlier, and higher U.S. tariffs are set to push down growth prospects, the State Secretariat for Economic Affairs said Thursday. Gross domestic product grew 0.1 percent from the first quarter, unchanged from the flash estimate. Growth softened notably from 0.7 percent in the first quarter.

RTTNews | vor 2Std 37 Minuten

U.S. GDP Jumps More Than Previously Estimated In Q2

The U.S. economy grew by more than previously estimated in the second quarter of 2025, according to revised data released by the Commerce Department on Thursday.

RTTNews | vor 2Std 45 Minuten

U.S. Weekly Jobless Claims Edge Down To 229,000

A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd.

RTTNews | vor 2Std 50 Minuten

EURUSD	1.16639	GBPUSD	1.35087	AUDUSD	0.65263
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